It does not matter where in the world you live, 2017 is set to be a challenging year financially for many of us. Not only are we going to see a new President in the United States of America, but the UK is going to start the Brexit process as well. Both events may have fundamental impact on global financial markets, and on our purse strings.
If Mr Trump decides to tear up trade agreements with leading nations, we could see higher import duties and price hikes on goods. Things made in China may become more expensive, and if the Chinese start to produce less, it may have a knock on effect on the global economy.
Some Brexit factors may not be affecting us as yet, but the UK Sterling has already taken a hit. Are there more upsets to come? If you are relying on an income in UK Sterling, now is good time to check out your options. Make sure that you are getting the best rates on international currency transfers and try to save some money for a rainy day.
But, how can you save money in 2017? The first thing you need to do is to get a hold of your daily living expenses. Set up a spreadsheet on your computer and found out where you can make some savings. Be savvy and check out electricity deals and other energy prices at the same time.
Saving money on daily living costs matter a lot. Get to know your local supermarkets and find out which ones have the best offers. Remember that supermarket loyalty may not pay off. It could be better to shop around, and make the most out of those loyalty cards that you have in your wallet. By shopping around, I have picked up a lot of extra points and cash on my loyalty cards. You will even find that supermarkets are happy to give you discount vouchers when you don't visit them every week.
Insurance costs are another one of life's burdens. When was the last time you made sure that you got the best deal on your various insurances? We all have them, but often we do not check that we are still getting the best deals and value for money. Saying no to an insurer, often makes them prick up their ears. Even insurance companies need a healthy customer base and hate to lose a customer.
How much is your bank charging your for banking services? Banks are slow in handing out good deals for their customers, but like to charge money for all sorts of things. Yes, they are businesses but make sure that their practices benefit you not just them.
The waste less concept is becoming increasingly popular. Most of us are now more aware that we may throw away too much stuff. Whether it is food or clothes, have a little think how you can use it. Don't buy food that you don't need and clothes you are not going to wear. If you have close that you are bored with, perhaps you can sell in second shop or consignment shop and get some money back. Don't be afraid to re-use your clothes. You be surprised what you can make out of cast off clothes.
More than anything, perhaps we should adopt the attitude that if we don't need it, we should not buy it. Never be afraid to ask for a better price or see if you can get a better deal elsewhere. Remember that it is your wallet and bank account, and your hard earned money. Waste not want not seems to be a principle that we have forgotten. I keep wondering if it would make a good motto for all of us in 2017!
Happy New Year and make sure that you check back every so often for new ideas on how to save and make money online and elsewhere in your life.